NFT marketplace development (storefront) - outsourcing company Boosty Labs
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NFT marketplace development

For several years, the Boosty Labs team has been successfully involved in NFT marketplace development. We are a world-class fintech and cloud engineering team with a solid background of practice that combines consulting, strategy, design and engineering at scale. The single point that has brought together investors and celebrities and brought in the biggest profits in recent years is the cryptocurrency market. The latest trend in this area is NFTs and specialized NFT marketplaces. This technology is just beginning to develop, but it has already penetrated everything from entertainment to art and agriculture to sports. The most advanced and competent market participants have already begun to buy and sell NFTs through well-organized marketplaces.
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NFT Marketplace Main Features

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Storefront

Storefront is extremely important because it provides data on products (name, description, owners, bids, price, purchase methods, ratings, etc.).

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Search System

In order for users to easily and quickly find the desired item, it is necessary to develop an efficient search system for the marketplace. The search system allows users to easily find the desired object. All items are divided into several categories, which makes it easier for users to navigate NFT marketplace content.

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Filters

Filters simplify navigation as there are many similar objects. They also  allow users to sort NFTs by payment method, collection, and other criteria.

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Wallets

In order for participants to store tokens and carry out transactions, the platform must be linked to electronic wallets. The easiest option is to provide integration with popular crypto wallets. It will be especially convenient for those who already use such wallets.

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Trading History

This section helps to analyze the popularity of the platform, what they sell on it and at what price. The trading history includes data on events, product names, prices, buyers, sellers, dates.

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Rating and Reviews

This section allows users to rate bids, sellers and buyers. We can create a vote in the form of likes or by pressing a number, as well as provide an opportunity for participants to leave comments or write about their impression of the transaction.

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Push Notification System

Push notifications system allows users to get news about bids in the selected category or from the selected seller, changes in the status of the selected product,  message, sales of their own lots or updates of the NFT marketplace.

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Support Service

This feature allows users to quickly resolve problems and receive answers to their questions. Support services can function via call centers, chat bots or e-mail.

NFT Marketplace Development Stages

Market Analysis

Before creating your own marketplace, you need to study the market, analyze competitors' sites, evaluate their strengths and find weaknesses so that you can use it to your advantage.

Strategy Development

At this stage, you need to set a goal, understand what niche you want to occupy and what audience to attract, how you will sell NFTs, what opportunities you will offer users, and how you will stand out from competitors.

Marketplace Development

The customer informs the developers of his requirements, the functions necessary for the effective operation of the site are selected, the site architecture is developed ( pages, modules, blocks, sections).

UX/UI Design

The user interface plays a significant role in shaping the impression of the site. It will help you stand out from the competitors and attract an audience interested in your products.

Testing

The team launches a series of checks during which the work of the platform is studied, possible errors and bugs are identified. If there are shortcomings, they are eliminated, usability is improved, and the safety and the marketplace efficiency is checked.

Further Maintenance

If you wish, you can order a platform maintenance service, which will allow you to eliminate errors in a timely manner, quickly solve problems, make changes in accordance with trends, and ensure further platform development.

NFT marketplace is a special platform for the issuance, sale and storage of non-fungible tokens, built on the basis of the blockchain. Here you can meet artists, designers, authors and crypto lovers who want to release, sell and exchange digital works of art or collectibles.

The purchase of NFT is carried out for cryptocurrency, mainly for Ethereum, but a number of sites also accept BTC and other digital coins. You can store them directly on the platform or on another electronic wallet after the withdrawal.

A good NFT marketplace provides high liquidity and reliable protection, provides ample opportunities for users (creating tokens, trading, holding auctions, various events, tools for attracting customers, etc.).

Types of NFT marketplaces:

open (anyone can place their token) and closed (only some developers have the right to add tokens);

common, created by a group of users, and private, open by an individual, company or a small community of like-minded people;

universal with any content and a variety of categories, thematic (only art or game items, for example) and curated (control platforms determine which tokens are more valuable).

Regardless of the type of marketplace, NFT trading is carried out without restrictions.
To work on the site, the user must register, open an electronic wallet for storing tokens. After that, he will have access to the creation of art objects, will be able to put them up for sale and buy other people's assets. Moreover, it is better if the marketplace offers different trading options (not only selling at a fixed price, but also auctions). Before the token appears in the list of the platform, it is moderated.

NFT marketplace success factors:

Deficit. To increase the value of a token, its supply must be limited. At the same time, exclusivity is specific in this field. For example, there are one-of-a-kind assets or packages. The latter refers to games and is released so that all gamers can purchase the desired token. And there are also unique tokens with a signature like an autograph. Such assets are highly valued. The more rare NFTs on the marketplace, the more users you can attract.

High liquidity. If assets are easy to buy and sell, and prices don't fluctuate constantly, there will be more demand for your goods.

Safety. It is important to protect users against hacker attacks and vulnerabilities. All transactions must be reliable and transparent.

Variety of tokens. If you provide users with a good choice, you can attract more people to the site. At the same time, the simplification of the publication of tokens and other features for the creators will be of interest to different authors.

Unique style. Unique elements allow you to stand out from competitors, cause the audience to associate with your business, and be remembered by users faster.

A successful platform is one that different users come to in order to create new tokens, sell and buy them. The more options the site offers, the higher the interest in it from the target audience.

An effective NFT marketplace is a flexible marketplace that contains a wide range of functionality, a convenient user interface, reliable software and a unique design, as well as ensuring smooth operation, data protection and transactions.

The creation of such a platform is a complex process, so all work must be carried out in stages.

The name and logo are the key components of corporate identity. With their help, a visual and semantic image of the company is formed, the main idea is conveyed, and an impression of the business is created. The name can either directly reflect the field of activity, or be original. The main thing is that it attracts attention, forms the image of a successful company, evokes pleasant emotions and curiosity. Then there will be interest in the site.

The NFT marketplace logo is more than just a sign. It helps to build communication with the audience, increase its loyalty and trust. Consumers do not take companies without a logo seriously, because in this case they have an unfinished image, they give the impression of small organizations without a clear vision of the business. And this is not at all what you need.

In crypto business, it is important to create the impression of a successful, reliable, up-to-date platform. Therefore, a modern dynamic logo should be developed. It will distinguish the site from competitors, match the image, emphasize individuality, and also attract the attention of the audience, and evoke pleasant associations.

If you want to create a successful NFT marketplace, you must definitely conduct a preliminary market analysis, develop a competent development strategy, satisfy user requests, offer good trading conditions and promote your platform. After all, in order to earn a reputation and develop a customer base, you must first attract traffic to the site. And for this you need to tell about yourself, emphasize strengths, show benefits for users, and also take into account search engine algorithms.

An effective NFT marketplace is a flexible marketplace that contains a wide range of functionality, a convenient user interface, reliable software and a unique design, as well as ensuring smooth operation, data protection and transactions. The creation of such a platform is a complex process, so all work must be carried out in stages.

Stages of creating an NFT marketplace:

Market analysis. Before creating your own marketplace, you need to study the market, analyze competitors' sites, evaluate their strengths and find weaknesses so that you can use it to your advantage.

Strategy Development. At this stage, you need to set a goal, understand what niche you want to occupy and what audience to attract, how you will sell tokens, what opportunities you will offer users, and how you will stand out from competitors.

Creation of a marketplace. The customer informs the developers of his requirements, the functions necessary for the effective operation of the site are selected, the site architecture is developed (number of pages, modules, blocks, sections). 

Creating a platform from scratch allows you to get a reliable NFT marketplace with convenient functionality, clear navigation and attractive modern design.

UX/UI design. The user interface plays a significant role in shaping the impression of the site. And the point here is not only in appearance, but also in usability. It is important to create a simple and unique design. This will help you stand out from the competition and attract an audience interested in the product.

Testing.The team launches a series of checks during which the work of the platform is studied, possible errors and bugs are identified. If there are shortcomings, they are eliminated, usability is improved, and the safety and efficiency of the site is checked.

Support and further maintenance. If you wish, you can order a platform maintenance service, which will allow you to eliminate errors in a timely manner, quickly solve problems, make changes in accordance with trends, and develop the site.

A ready-to-go NFT marketplace must be linked to a digital wallet as it will allow users to connect and trade directly. You also need to sort tokens by category, a personal account to display information on transactions, and other functions.

Platform functionality:

Storefront. It is important because it shows users information about products (name, description, owners, bids, price, purchase method, rating, etc.).

Search. In order for users to easily and quickly find the desired item, it is necessary to think over the search system on the site.

Filters. All items should be divided into categories, such as art, photos, videos, memes, music, etc. Then it will be easier for the participants to navigate the site. That is, filters simplify navigation and allow users to sort tokens by payment method, collection, and other criteria.

Registration. To issue and sell tokens, the user must first register on the platform. This can be done via email, phone or social media.

Wallets. In order for participants to store tokens and carry out transactions, the platform must be linked to electronic wallets. The easiest option is to provide integration with popular crypto wallets. It will be especially convenient for those who already use such a wallet. You can connect Metamask, MyEtherWallet, WalletConnect, etc.

Ads. This function is needed so that the user can quickly upload a file, place information about the token, specify its properties, tags, external links, etc.

Rates. Allows you to place bets and provides access to their current status.

Trading history. This section helps to analyze the popularity of the platform, to study its products, what, for how much and when it was sold.

Rating and reviews. Allows users to rate lots, sellers and buyers.You can create a vote in the form of likes or by clicking a number, as well as provide an opportunity for participants to leave comments or write about their impression of the transaction.

Notifications. Care should be taken to inform users about new rates, changes in product status, token sales, site updates, etc.

Support. This feature will allow you to quickly resolve problems and conflict situations that have arisen, and participants will be able to quickly receive answers to their questions. To do this, you can establish a call center, set up a chat bot, or create a form for sending an email.

For developing an efficient NFT platform, contact Boosty Labs. A team of specialists, working on your project, will implement the necessary functionality, prepare a unique design, and, if necessary, create a unique optimized content. You will get a marketplace with a clear interface and a modern catchy visual.